BUS 681 Week 1 Assignment Journal Article Research and Analysis

However, the truth is that compensation deals a lot with more than the mere monetary rewards that an employer provides. Compensation, therefore, gives credit to all the forms of financial returns as well as real services and benefits that an employer provides to employees as part of the employment association between the two parties (Martocchio 2016). It is undeniably true to say that compensation practices having the capabilities of uplifting an organization’s competitive advantage. A firm that wishes to maintain the competitive advantage in the global economy ought to support all its strategic programs and its actions. For an organization to determine the relative importance of compensable factors, it can utilize the criteria for compensable rating criteria. For instance, responsibilities such as supervisory, fiscal, over machinery, over access to confidential information are important in the determination of compensation.Among the essential components of the human resource managemen...